Investor Presentaiton

- Automatic Early Exchange – Non-Viability Trigger Event Non-Viability Trigger Event A Non-Viability Trigger Event occurs when APRA notifies CBA in writing that it believes: Exchange of all or some PERLS VIII (or the taking of an action in relation to other capital instruments of the CBA Group), is necessary because, without it, CBA would become non-viable; or a public sector injection of capital, or equivalent support, is necessary because, without it, CBA would become non-viable 11 Examples of situations in which a Non-Viability Trigger Event may occur Whether a Non-Viability Trigger Event occurs is at the discretion of APRA - there are currently no precedents The circumstances in which APRA may exercise its discretion are not limited to when APRA may have a concern about a bank's capital levels but may also include when APRA has a concern about a bank's funding and liquidity levels Exchange following a Non-Viability Trigger Event Maximum Exchange Number If a Non-Viability Trigger Event occurs, CBA must immediately Exchange such number of PERLS VIII (or a percentage of the Face Value of each PERLS VIII) as specified by APRA or necessary to satisfy APRA that CBA will no longer be non-viable On Exchange, Holders receive a variable number of Ordinary Shares (subject to the Maximum Exchange Number) with the benefit of a 1% discount The Mandatory Exchange Conditions do not apply and the Terms provide that Exchange occurs automatically without the need for any further act or step by CBA and that CBA will recognise Holders as having been issued Ordinary Shares Calculated according to the formula: (Face Value) / (Relevant Percentage x Issue Date VWAP) The Relevant Percentage is 20% if Exchange is occurring as a result of a Non-Viability Trigger Event Commonwealth Bank of Australia / PERLS VIII Investor Presentation CAN

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